sydney gov startups grants 2016 - unsw innovations ft duy nguyen
TRANSCRIPT
Sydney Startup Support System Public Sector
By Duy Nguyen
CONTENTSA. Overview
1. Sydney 2. Startup Culture
B. NSW Government Programs1. Purpose2. Amount Offered 3. Procedures/Eligibility
D. Federal Government Programs1. Purpose2. Amount Offered3. Procedures/Eligibility
E. Successful Businesses1. Specialisations2. Funding Stage3. Year of Establishment4. Total Funding
Sydney
SydneyBeing Australia’s financial and economic hub, it is only natural that Sydney excels in numerous industries as well as simply being a place to thrive in. Sydney currently has the largest population in Australia, is one of the world’s most influential and multicultural cities. According to Australia’s ABS, NSW is still the location of the largest and most diverse manufacturing base.
Major Infrastructure Investment
Manufacturing
Financial ServicesReal-time Digital Technologies
Aviation/Aerospace Tech
Electronics
Biotechnology
Education
Mobile Application
Tourism Oil Refinery
Notable Industries in Sydney
Startup CultureSydney is the city to be for startups, where innovation in a diverse environment of industries is constantly booming. With both domestic and foreign entrepreneurs pitching in new ideas, and a strong support system (private and public), Sydney is the perfect breeding ground for ideas that become either a life changing mobile application or even the next greatest aviation project.
Talent
“The city is a magnet for business talent, and produces an abundance of opportunities, making it a great launching pad for your company’s future” - Penguin Management
Attraction
“Wanting to capitalise on Sydney’s growing momentum, we see more international brands from all corners of the globe looking for retail space in Sydney” -Penguin Management
Talent
“Sydney has a global outlook and enjoys the high standard of supporting infrastructure that one would expect from a world city” - Virgin
Ranked part of Top 10 Cities for startups- Forbes
Prestige
Competitive
“The biggest tech startup ecosystem in Australia is in Sydney” - City of Sydney
NSW Government Programs
Jobs For NSW “Jobs for NSW is an innovative government-backed initiative that aims to strengthen the NSW economy by generating rewarding jobs and accelerating high-potential sectors of the State's economy”
“Grants for promising startups”
Minimum Viable Product Grant Building Partnerships GrantTarget: Potential Startups that do not produce revenue yet
Industry: Enabling Technology
Amount: $25,000 (MAX)
Requirements: (1) Must be resident of co-working space,
incubator, or accelerator(2) Provide recent financial statements
Applications:(3) Preliminary Assessment Form
Target: Revenue generating startups
Industry: Enabling Technology
Amount: $100,000 (Max)
Requirements: (1) Must have an ABN registered(2) Focused on tech development(3) Owns relevant intellectual property(4) Relations with customers for feedback or
potential distributor
Application: (1) Preliminary Assessment Form
Link: www.jobsfornsw.com.au/how-we-help/start-ups
Office of State Revenue
Purpose: Designed to encourage the nearly 650,000 small businesses in New South Wales that do not pay payroll tax to hire new employees and expand their business
SMALL BUSINESS GRANT
Business Requirements(1) Must have an active ABN(2) Not have a payroll tax liability
Employment Requirements(1) Person employed in a position that is a new job(2) Employment commences at least on 1 Jul 2015
and before 1 Jul 2019(3) Employment maintained for 12 months(4) Number of full-timers must increase and be
maintained over 12 months(5) Services performed wholly or mainly in NSW
Registration: Online ApplicationLink: www.osr.nsw.gov.au/grants/sbg/online
Amount offered: $2000 per full-time
Formula = Annual Grant Amount x C/D
C = Number of hours worked by the employee during 12-month periodD = Average number of hours worked by full-timers during 12-month period
Method: Electronic Funds Transfer
City of Sydney
BUSINESS IMPROVEMENT GRANTS
Purpose: Provides targeted support to improve precinct amenity and stimulate business activity; allows business owners to undertake visual improvements to space
Amounts Offered: $10,000
Eligibility:(1) Offer a project within the City of Sydney boundaries(2) Must be either
(a) Not-for-profit organisation able to demonstrate they are properly constituted with statement of purpose and an organisational structure(b) Social and creative enterprise organisation, including for-profit enterprises, and able to demonstrate proper constituency with statement of purpose and organisational structure(c) Individual auspiced by an incorporated not-for-profit organisation
Key Dates:(1) Application should be submitted online at least 12 weeks prior to activity taking place(2) Activity should take place within 12 months of the approval date
Links: http://www.cityofsydney.nsw.gov.au/community/grants-and-sponsorships/business-grants/business-improvement-grants
City of Sydney
INNOVATION GRANTS
Purpose: Aimed to support development or implementation of new technologies or processes that are currently not being used in local market, and also have potential to reduce greenhouse gas emissions and improve efficiencies applied to the area
Amount Offered:(1) $20,000 (MAX) for feasibility studies that investigate innovative environmental solutions(2) $80,000 (MAX) demonstration projects for solutions to reduce resource consumption
Eligibility:(1) Offer a project within the City of Sydney boundaries(2) Must be either
(a) Not-for-profit organisation able to demonstrate they are properly constituted with statement of purpose and an organisational structure(b) Social and creative enterprise organisation, including for-profit enterprises, and able to demonstrate proper constituency with statement of purpose and organisational structure(c) Individual auspiced by an incorporated not-for-profit organisation
Link: www.cityofsydney.nsw.gov.au/community/grants-and-sponsorships/business-grants/innovation-grant
City of Sydney
CULTURAL AND CREATIVE GRANTS
Purpose: Supports projects and initiatives that provide opportunities for creative participation, enhance creativity in public and strengthen sustainability and capacity of the city’s cultural and creative industries
Amount Offered: (1) $5000 - $50,000(2) Annual project funding or multi-year project (3 years max)
Eligibility:(1) Offer a project within the City of Sydney boundaries(2) Grantees may be required to provide sponsorship benefits back to City of Sydney community(3) Must be either
(a) Not-for-profit organisation able to demonstrate they are properly constituted with statement of purpose and an organisational structure(b) Social and creative enterprise organisation, including for-profit enterprises, and able to demonstrate proper constituency with statement of purpose and organisational structure(c) Individual auspiced by an incorporated not-for-profit organisation
Link: http://www.cityofsydney.nsw.gov.au/community/grants-and-sponsorships/cultural-grants-sponsorships/cultural-and-creative-grants
Federal Government Programs
Easy AccessFor the most efficient means of accessing information to public grants, venture capital, advisory and more, the Australian Government has provided a single source that channels multiple resources that will help any startup and business get the edge it needs to succeed as a competitive entity in Sydney.
“An Australian Government Initiative”
Provides six main features that will help your business thrive
Plan & Start
Grants & Assistance
Run
Advisory Services
Exit
Events
Procedures
Process Current Grants
Go through “Grants & Assistance”1
2
3
Select all industries that apply to current startup
State annual turnover
4 State Years of Operation
5 Select from grants best suitable for current needs
“An Australian Government Initiative”
“Business Research & Innovation Initiative”
“Cooperative Research Centres (CRC) Programme”
“Women in STEM and Entrepreneurship”
“Defense Industry”
“Entrepreneurs’ Programme”
“Sustainability Advantage Program”
Federal Support
AUSTRALIAN RESEARCH & DEVELOPMENT TAX INCENTIVE
Purpose: R&D Corporations
Amount Offered: 45% refundable tax offset
Eligibility: (1) Have incurred at least $20,000 in eligible R&D deductions(2) Must be incorporated under an Australian law(3) Incorporated under foreign law but an Australian resident for income tax purposes(4) Incorporated under foreign law and you both
(a) Resident of country which Australia has double tax agreement that includes permanent establishment(b) Carrying on business in Australia through permanent establishment as defined in double tax agreement
Link: www.ato.gov.au/Business/Research-and-development-tax-incentive/
Federal Support
SMALL BUSINESS TAX BREAK
“Growing jobs and small business - expanding accelerated depreciation for small business”
Purpose: Allows small businesses to claim an immediate deduction for assets they start to use; provided each depreciable asset costs
Amount Offered: $20,000 (MAX)
Eligibility: (1) Any business that meets the definition of a small business entity with an aggregated turnover
less than $2 Million(2) Can claim immediate deduction for cost of depreciating assets acquired for less than $20,000(3) All depreciating assets are eligible, expect for small number of exclusions
More InformationLink: www.ato.gov.au/General/New-legislation/In-detail/Direct-taxes/Income-tax-for-businesses/Small-Business---expanding-accelerated-depreciation/
Federal Support
WOMEN IN STEM AND ENTREPRENEURSHIP GRANT
Purpose: Provides funding for businesses, not-for-profits and research organisations to support outreach programs that target girls and women to develop interest in entrepreneurship and to build professional networking
Amount Offered: $5000 - $250,000 per project
Eligibility: (For project)(1) Have at least $5000 in total expenditure(2) Project takes no longer than 24 months to complete(3) Aims to address discrimination and inequality for girls and women in STEM and entrepreneurship(4) Must meet merit criteria (see link for all information)
Link: www.business.gov.au/assistance/women-in-stem-and-entrepreneurship
Federal Support
BUSINESS RESEARCH AND INNOVATION INITIATIVEPurpose: For innovative businesses who have potential to create new products and innovations that meet defined government needs, while still retaining intellectual property and right to commercialise their ideas
Amount Offered: (1) $100,000 (MAX) for challenge winners (2) $1 Million (MAX) for most successful
Eligibility: (1) Must be non-tax exempt incorporated(2) Have an ABN(3) Have a turnover of less than $20 Million for each of the last 3 years(4) Must show that you can fund any project costs the grant doesn’t cover
Process:(5) Must go through five challenges to receive grant
(a) On-the-spot technology for measuring parathyroid surface residue(b) Tracking the effect and value of information products(c) Digitally enabled community engagement in policy and programme design(d) Improve transparency and reliability of water market information(e) Sharing of information nationally to ensure child safety
Link: www.innovation.gov.au/page/business-research-and-innovation-initiative
Successful Sydney Startups
Sydney Startups
SpacerTotal Funding: $1 Million
Funding Stage: Seed CapitalFounded: 2015
E-CommerceStorage
CanvaTotal Funding: $45.6 Million
Funding Stage: Series AFounded: 2012
Web & Graphic DesignPhoto Editing
LawPathTotaling Funding: $1.74 Million
Funding Stage: UnknownFounded: 2013
E-CommerceLegal Services
Shoes of PreyTotal Funding: $25.91 Million
Funding Stage: Series BFounded: 2009
E-CommerceWomen’s Fashion
Shoes
TimelioTotal Funding: $500K
Funding Stage: Seed CapitalFounded: 2014
Financial ServicesFinTech
Invoice2goTotal Funding: $50 Million
Funding Stage: Series CFounded: 2002
Mobile PaymentOnline Applications
Fin Tech
Sydney Startups
UnlockdTotal Funding: $16 Million
Funding Stage: Series AFounded: 2014
Advertising Telecommunications
Media
IngogoTotal Funding: $30.39 Million
Funding Stage: UnknownFounded: 2011
Taxi ServiceTravel
Mobile Application
DivvyTotal Funding: $5.3 Million
Funding Stage: Series BFounded: 2011
Real EstateMobile Application
Drive YelloTotal Funding: $1.24 Million
Funding Stage: UnknownFounded: 2014
Food & BeverageDelivery
Hospitality
CoinJarTotal Funding: $1.06 MillionFunding Stage: Seed Capital
Founded: 2013
FinTechBitcoin
BugcrowdTotal Funding: $22.65 Million
Funding Stage: Series BFounded: 2012
CrowdsourcingCyber Security
Sydney Startups
StockspotTotal Funding: $1.2 Million
Funding Stage: Series AFounded: 2013
Personal FinanceFinancial Services
VinomofoTotal Funding: $19.16 Million
Funding Stage: UnknownFounded: 2011
Wine and Spirits Food & Beverage
Brewing
AirtaskerTotal Funding: $24.71 Million
Funding Stage: Series BFounded: 2012
E-CommerceWeb Development
Mobile Applications
TinybeansTotal Funding: $1.75 MillionFunding Stage: Seed Capital
Founded: 2012
Photography Journalism
Videography
CartesianTotal Funding: $5.27 Million
Funding Stage: UnknownFounded: 1990
Consulting ServicesFinTech
Financial Services
NinjablocksTotal Funding: $3.65 Million
Funding Stage: UnknownFounded: 2012
Developr APIsHome Automation
Open Source
By Duy Nguyen Boston College Carroll School of ManagementUNSW Innovations Class of 2018UNSW School of Business 2016
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